How the Mortgage Loan Process Works

There is little doubt ; getting a mortgage is a complicated process. You would not be looking up loan information if you could get a mortgage loan in one day by filling out a simple application. But 1st Credential Mortgage Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four important steps involved in obtaining a loan.

Step one: Decide how much you can afford

A couple of factors determine this amount. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: pre-qualify for your loan

This step is where 1st Credential Mortgage Inc will start to save you money. You will give us information on your current job, assets, and residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. We'll review all this info and give you a letter of pre-qualification. Handle it with care — it is a great tool for buying your new home! Your agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for your new home, we're busy finding the loan that's just right for you.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our website. At the end of this step, we'll order the appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to designate an escrow/title company to take care of the funding of your loan once it's approved. We'll coordinate with this company to make sure the papers your lender will require are in order, and you will probably}likely sign everything at this company's officeWe do all the work to coordinate with the title company on your date to close. Because you don't have to worry about these details, you get to think about the move, painting, new carpet, and the fun parts of moving into your new house.

You've answered some few questions, given us lots of information, applied online, and the next thing you know, you are moving in! 1st Credential Mortgage Inc is a mortgage specialist; you're not — so we do the work. Makes sense, doesn't it??

Have questions about the loan process? Call 1st Credential Mortgage Inc at (281) 778-0805. It's our job to answer lending questions, so we're happy to help!

Basic Pre-Approval

Get the Best Mortgage Rate! Tell us a little about your current needs and we can use that information to match you with just the right loan.

Tell us about your loan needs.
How can we get in touch with you?
Tell us about your credit history.